Peniel Pentecostal Church
Charity No. 1050636
Trustees' Report and Unaudited Accounts
31 December 2024
Peniel Pentecostal Church Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 11 |
| Detailed Statement of Financial Activities | 12 to 14 |
Page 1
Peniel Pentecostal Church Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1050636
Trustees
The following trustees served during the year:
P. Lloyd G. Parry L.V. Pugh P.M. Pugh P.H. Pugh C.J. Sandry
==> picture [298 x 102] intentionally omitted <==
Accountants
ClearWay Accounting 167-169 Great Portland St. London W1W 5PF
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Phillip Pugh
Phillip Pugh (Oct 18, 2025 13:20:34 GMT+1)
P.H. Pugh Trustee 18 October 2025
Page 2
Peniel Pentecostal Church Independent Examiners Report
Independent Examiner's Report to the trustees of Peniel Pentecostal Church
I report to the trustees on my examination of the financial statements of Peniel Pentecostal Church for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Christopher Pavett (Oct 18, 2025 13:10:52 GMT+1)Christopher Pavett
Christopher Pavett FCA ClearWay Accounting 167-169 Great Portland St.
London
W1W 5PF
18 October 2025
Page 3
Peniel Pentecostal Church Statement of Financial Activities
for the year ended 31 December 2024
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Other 4 Total Expenditure on: Charitable activities 5 Other 7 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| 37,602 | 37,602 | 40,709 | ||
| 149 | 149 | 169 | ||
| 2,535 | 2,535 | 2,450 | ||
| 40,286 | 40,286 | 43,328 | ||
| 11,562 | 11,562 | 10,360 | ||
| 31,502 | 31,502 | 22,585 | ||
| 43,064 | 43,064 | 32,945 | ||
| - | - | - | ||
| (2,778) | (2,778) | 10,383 | ||
| - | - | - | ||
| (2,778) | (2,778) | 10,383 | ||
| (2,778) | (2,778) | 10,383 | ||
| 58,774 | 58,774 | 48,391 | ||
| 55,996 | 55,996 | 58,774 | ||
Page 4
Peniel Pentecostal Church Balance Sheet
at 31 December 2024
| Charity No. 1050636 Current assets Debtors 9 Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds Reserves 10 Total funds Approved by the trustees on 22 February 2025 And signed on their behalf by: |
2024 £ - 55,996 55,996 55,996 55,996 55,996 55,996 55,996 55,996 55,996 |
2023 £ 92 58,682 |
|---|---|---|
| 58,774 | ||
| 58,774 58,774 |
||
| 58,774 | ||
| 58,774 | ||
| 58,774 | ||
| 58,774 | ||
| 58,774 | ||
Phillip Pugh (Oct 18, 2025 13:20:34 GMT+1)Phillip Pugh P.H. Pugh Trustee 18 October 2025
Page 5
Peniel Pentecostal Church Notes to the Accounts
for the year ended 31 December 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
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Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
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Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 6
Peniel Pentecostal Church Notes to the Accounts
Expenditure
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Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 7
Peniel Pentecostal Church Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
- 2 Income from donations and legacies
| Donations & Offerings - Cash Receipts Donations & Offerings - Gift Aided Donations & Offerings - Non Gift Aided HMRC Gift Aid Receipts |
Unrestricted £ 7,207 18,463 7,379 4,553 37,602 |
Total 2024 £ 7,207 18,463 7,379 4,553 37,602 |
Total 2023 £ 6,753 18,144 5,673 10,139 |
|---|---|---|---|
| 40,709 |
Page 8
Peniel Pentecostal Church Notes to the Accounts
3 Income from charitable activities
| Departmental & Outreach Activities 4 Other income 5 Expenditure on charitable activities Expenditure on charitable activities Departmental & Outreach Activities Conferences Missionary Activities Ministry Activities Community Gifts & Support Governance costs |
Unrestricted £ 149 149 Unrestricted £ 1,524 520 491 2,535 |
Total 2024 £ 149 149 Total 2024 £ 1,524 520 491 2,535 |
Total 2023 £ 169 |
|---|---|---|---|
| 169 | |||
| Total 2023 £ 2,000 450 - |
|||
| 2,450 | |||
| Unrestricted £ 2,190 577 4,185 1,700 1,500 1,260 150 11,562 |
Total 2024 £ 2,190 577 4,185 1,700 1,500 1,260 150 11,562 |
Total 2023 £ 2,921 - 5,815 - 627 852 145 |
|
| 10,360 |
Page 9
Peniel Pentecostal Church Notes to the Accounts
- 6 Analysis of grants
| Activity or programme OAP Activities Support Community Support Activity or programme OAP Activities Support Community Support 7 Other expenditure Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs 8 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 9 Debtors Prepayments and accrued income |
Support Costs £ 1,500 - 1,500 Support Costs £ 1,500 - 1,500 Unrestricted £ 500 - 15,974 12,370 2,658 31,502 2024 - - 2024 £ - - |
Total 2024 £ 1,500 - 1,500 Total 2024 £ 1,500 - 1,500 Total 2024 £ 500 - 15,974 12,370 2,658 31,502 |
Total 2023 £ - 627 |
|---|---|---|---|
| 627 | |||
| Total 2023 £ |
|||
| - | |||
| 627 | |||
| 627 | |||
| Total 2023 £ 3,472 1,862 9,440 7,561 250 |
|||
| 22,585 | |||
| 2023 3,472 |
|||
| 3,472 | |||
| 2023 £ 92 |
|||
| 92 |
Page 10
Peniel Pentecostal Church Notes to the Accounts
10 Movement in funds
| Restricted funds: Unrestricted funds: General funds Total funds 11 Analysis of net assets between funds Net current assets 12 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 January 2024 58,774 58,774 |
Incoming resources (including other gains/losses ) £ 40,286 40,286 At 1 January 2024 £ |
Resources expended £ (43,064) (43,064) Unrestricted funds £ 55,996 55,996 Cash flows £ |
At 31 December 2024 £ 55,996 |
|---|---|---|---|---|
| 55,996 | ||||
| Total £ 55,996 |
||||
| 55,996 | ||||
| At 31 December 2024 £ |
||||
| 58,682 | (2,686) | 55,996 | ||
| 58,682 58,682 |
(2,686) (2,686) |
55,996 | ||
| 55,996 | ||||
Page 11
Peniel Pentecostal Church Detailed Statement of Financial Activities
for the year ended 31 December 2024
| Income and endowments from: Donations and legacies Donations & Offerings - Cash Receipts Donations & Offerings - Gift Aided Donations & Offerings - Non Gift Aided HMRC Gift Aid Receipts Charitable activities Departmental & Outreach Activities Other Total income and endowments Expenditure on: Charitable activities Departmental & Outreach Activities Conferences Missionary Activities Ministry Activities Grants made Governance costs |
Unrestricted funds 2024 £ 7,207 18,463 7,379 4,553 37,602 149 149 1,524 520 491 2,535 40,286 2,190 577 4,185 1,700 1,500 10,152 1,260 150 1,410 |
Total funds 2024 £ 7,207 18,463 7,379 4,553 37,602 149 149 1,524 520 491 2,535 40,286 2,190 577 4,185 1,700 1,500 10,152 1,260 150 1,410 |
Total funds 2023 £ 6,753 18,144 5,673 10,139 |
|---|---|---|---|
| 40,709 | |||
| 169 | |||
| 169 | |||
| 2,000 450 - |
|||
| 2,450 | |||
| 43,328 2,921 - 5,815 - 627 |
|||
| 9,363 | |||
| 852 145 |
|||
| 997 |
Page 12
Peniel Pentecostal Church Detailed Statement of Financial Activities
Total of expenditure on charitable
activities Employee costs Salaries/wages Staff welfare Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Bank charges Equipment expensed Equipment leasing and hire charges Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains |
11,562 - 500 500 - - 272 2,053 3,146 2,209 7,562 732 15,974 19 6,609 859 451 357 3,507 568 12,370 1,440 1,218 2,658 31,502 43,064 - (2,778) (2,778) - |
11,562 - 500 500 - - 272 2,053 3,146 2,209 7,562 732 15,974 19 6,609 859 451 357 3,507 568 12,370 1,440 1,218 2,658 31,502 43,064 - (2,778) (2,778) - |
10,360 3,472 - |
|---|---|---|---|
| 3,472 | |||
| 1,862 | |||
| 1,862 | |||
| 287 3,797 2,360 1,996 544 456 |
|||
| 9,440 | |||
| - 3,846 1,250 130 794 1,021 520 |
|||
| 7,561 | |||
| 250 - |
|||
| 250 | |||
| 22,585 | |||
| 32,945 - |
|||
| 10,383 | |||
| 10,383 - |
Page 13
Peniel Pentecostal Church Detailed Statement of Financial Activities
| Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
(2,778) 58,774 55,996 |
(2,778) 58,774 55,996 |
10,383 |
|---|---|---|---|
| 48,391 | |||
| 58,774 |
Page 14
Peniel Pentecostal Church Accounts 2024
Final Audit Report
2025-10-18
Created: 2025-10-18 By: Christopher Pavett (chris@clearwayaccounting.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAqUlOskB1f773xGJ5T8iFn0Gyry1DP0-i
"Peniel Pentecostal Church Accounts 2024" History
Document created by Christopher Pavett (chris@clearwayaccounting.co.uk) 2025-10-18 - 12:09:29 PM GMT
Document emailed to Phillip Pugh (p.h.pugh@btinternet.com) for signature 2025-10-18 - 12:09:33 PM GMT
Document emailed to Christopher Pavett (chris@clearwayaccounting.co.uk) for signature 2025-10-18 - 12:09:33 PM GMT
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Email viewed by Christopher Pavett (chris@clearwayaccounting.co.uk) 2025-10-18 - 12:10:10 PM GMT
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Document e-signed by Christopher Pavett (chris@clearwayaccounting.co.uk) Signature Date: 2025-10-18 - 12:10:52 PM GMT - Time Source: server Email viewed by Phillip Pugh (p.h.pugh@btinternet.com) 2025-10-18 - 12:13:33 PM GMT
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Document e-signed by Phillip Pugh (p.h.pugh@btinternet.com) Signature Date: 2025-10-18 - 12:20:34 PM GMT - Time Source: server
Agreement completed.
2025-10-18 - 12:20:34 PM GMT